Usually I can’t wait to set goals for the new year, in fact I typically decide on them before the ball drops on New Year’s eve. This year was different, however, because my life has been a bit in flux since moving. My husband was job searching, we were settling into our new (more expensive) budget and still figuring out what things were going to cost. Enough time has passed now that I’m ready to publicly declare some goals. Here’s what I’m hoping to accomplish in 2015:

Accumulate $14,000 In My Retirement Fund

Last year was my first year of saving for retirement. I started out 2014 with a measly $760 in this account and finished up with $7,163. This year I want to double that amount, bringing this account to $14,000. I’m going to keep my retirement investments in my RRSP, and I’m happy with the Tangerine Streetwise funds, so I’m going to keep them there for the time being.

How I’m Going to Do It

I’m planning on accomplishing this goal by contributing $500 per month. If you’re thinking Hey that’s only $6,000 then you’d be right. The rest will hopefully be a combination of freelance income and market returns. So far I’ve been able to contribute $500 in both January and February despite only living on one income right now while my husband job searches.

Save $5,000 in My “Future” Fund

Now that I’m debt free, I’ve got my emergency fund established, I’m on track for retirement savings, and I’ve done some travelling, it’s time to start saving for a home. I’ve wanted to be a homeowner since I graduated from university, but I’ve always had other priorities to get out of the way first. Now it’s time, and I want to get started. $5,000 isn’t much, but it’s a good start.

How I’m Going to Do It

The bulk of this is going to come from my tax return and my New Brunswick Graduate Retention Rebate. This is my last year claiming this rebate and I’ll be really sad to see it go, but I’m happy that I’ll be able to use it to seed my future house downpayment fund. The rest of the fund will be filled using freelance income. I’m going to put this money in my TFSA and I’ll probably invest it, since I don’t plan on accessing it for at least five years and the interest rate on savings accounts is so pathetic these days. I’m going to stick with Tangerine Streetwise funds, but I’ll pick one that is lower risk than where I’ve got my retirement fund invested.

Professional Development Goals

I’ve got a few goals for my career that I want to fulfill this year, which I’m hoping will translate into a raise sometime mid-year. They are:

Become Hubspot Certified

Get Google Adwords Certified

Renew my Google Analytics certification

Take three Ladies Learning Code Workshops

Side Hustle Goals

I really want to expand my side hustle, but I’m not sure particularly how just yet. I’m thinking of embracing some of my other passions, beyond money management. I’m looking for a fresh way to earn extra cash, perhaps something that will get me outside in the fresh air, instead of being glued to a computer all day and night. Got any ideas?

These are my goals for 2015. I’ve got other things I want to accomplish too, but most of them are spending goals, or goals I’m not ready to share yet. I promise to let you know as things unfold.

I am really impressed with you for having so much accomplished at such a young age. You are an excellent example for young adults and I wish you the best of luck. If I had to do it all over again and young like you, I would not buy a single home but shoot for a duplex or higher. That way I could live in the home and have someone else help me pay for my mortgage. You have more than enough time to purchase that dream home later in life. Good luck with everything.

Hi Petrish! I’m definitely open to doing the triplex or duplex thing but all of those seem to be priced out of my budget. In addition, they all seem to be “student” dwellings and are just 1/2 bedroom units, ideally I’d like a three bedroom.

Good for you! My only focus is our debt. So far things are staying on plan and by Sept will really ramp up so im hoping our 36 month plan (now at 31mos) can be decreased even more (maybe finish in like 28mos from now). My income(s) is as high as it will get for a while (which compared to this time last year is about $400/net/mo). Once our debt is decreased then I’ll have way more plans (including moving, travel and more kids).

I’m so in awe of your long term debt repayment plan Catherine. Mine seems like amateur hour in comparison to yours. You’re amazing!

Alicia

Great goals. I love that you’re chugging along with your retirement. $7k/year from 24 y/o will be amazing when you go to retire 🙂 I love that you’re doing 3 Ladies Learning Code workshops as well. I’d totally do that, if I was in Halifax 🙂 or somewhere large enough to actually host one!

Right, but $7k/year for ~40 years (until you’re 64/66 – I think your husband is a year or two older than you right?) that’ll give you two million, ish. That’s a solid nest egg, two people or not, and if you can get it a bit higher…. bam, you’ll be set 🙂 autopilot!

These are great and well thought out goals! Your retirement funds are impressive. I need to up my contributions on this. I have years to make up for! Good luck with all your goals this year! Looking forward to following along with your progress. (And hoping it will inspire me to follow through on my own goals.)

Those sounds like great goals and I really look forward to hearing about what you have stewing. My goals for 2015 are pay back my parents $2700, they’ll get that at the beginning of March. Personally contribute 15% to my retirement a year (I am already contributing 5% and work contributes 7%). Travel to Germany and England for 15 days and go back home for Christmas.

I absolutely love your goals and I agree, setting carefully planned out and attainable realistic goals is the way to go if you actually want to reach them and be successful. I’ve still got debt to pay off so that’s my main goal for this year. I’d also like to get my retirement fund going and increase my side hustle income. I know what you mean by wanting to get away from the computer and do something that requires you to move around. I secretly love event planning and cooking/baking, and I’d love to turn that into a side hustle somehow one day.

Good luck with your goals this year Chonce, they all sound entirely doable.

JN

Hi Jordann! I’m a new reader. I’ve been in my first real full-time job since September after finishing grad school in the spring. I actually found your blog after I realized I was maybe in for a huge tax refund and was trying to see if others had had that happen (via using tuition tax credits). My refund is going to be $4,500 and I’m planning to put it all towards my student loan debt. From aggressive budgeting (I’ve tracked every single dollar I’ve spent since October) + big payments to my loan each month, I should be debt free at some point this year! I have a TFSA already and I’ll be making an RRSP soon, and I feel like there’s so much to learn. Anyway, I just wanted to say hello and tell you that your blog is great for us new professionals out there. Keep the posts coming!

Wow it sounds like you’ve really got things under control, also congrats on the huge refund, it’s so great that you’re putting it towards your debt – smart! Make sure to check in with periodic updates of your progress – I love hearing about the success of my readers!

JN

Thank you! I’ll definitely stay in touch. P.S. I used your orange key to open my Tangerine account – hope you get something for the referral!

Your goals are so solid! I’m going to try to get my Adwords too as I started working on my certification twice and lapsed each time. Third time’s the charm!

My 2015 goal is to hit a net-worth goal of $25k and make the next step in my career. My job is over as of August and for once in my life I don’t want to take any job just to make sure I can pay my bills. It’s time to get picky, it’s time to work somewhere that will benefit me as much (if not more) than them 😉

I'm a part time runner, yogi, local foodie and personal finance aficionado. I blog about handling money as a debt ridden millennial. [read more]

My Money Facts

Starting Debt: $37,987.65Current Debt: $0.00
I paid off my original debt in just 24 months.